Quicken

For the lending institution, see Quicken Loans.
Quicken

Screenshot of Quicken 2005 Premier Home & Business
Developer(s) Quicken Inc
Initial release 1983 (1983)
Stable release
Quicken 2017
Type Accounting software
License Proprietary
Website quicken.com

Quicken is a personal finance management tool developed by Quicken Inc (formerly part of Intuit, Inc.) On March 3, 2016, Intuit announced plans to sell Quicken to H.I.G. Capital. Terms of the sale were not disclosed.[1]

Different (and incompatible) versions of Quicken run on Windows and Macintosh systems. Previous versions ran on DOS.[2] There are several versions of Quicken for Windows, including Quicken Starter, Quicken Deluxe, Quicken Rental Property Manager, Quicken Premier, and Quicken Home & Business, as well as Quicken for Mac.[3] Since 2008, each version has tended to have the release year in the product name (e.g., Quicken Basic 2008); before then, versions were numbered (e.g., Quicken 8 for DOS).

Quicken's major marketplace is North America, and most of the software sold is specialized for the United States and Canadian marketplace and user base. But the core functions can often be used more widely, regardless of country; and versions have been tailored for a variety of marketplaces, including Australia, Germany, Hong Kong, India, New Zealand, the Philippines, and Singapore.[4] Development of the UK-specific version of Quicken was stopped in January 2005, with sales and support ending shortly afterwards. There were also versions for Argentina, Brazil, Chile, Colombia, Costa Rica, Denmark, Ecuador, France, Mexico, the Netherlands, Spain, Sweden, Switzerland, Uruguay, and Venezuela.[4]

The Quicken brand has been extended to other personal and household areas, including healthcare. Quicken Health Expense Tracker is a free online tool for healthcare consumers enrolled in participating health plans. Users can "manage and direct their health care finances, view and organize medical expenses, payments and service histories, and download and organize personal health claims data."[5] The Quicken Medical Expense Manager is a desktop software tool for managing healthcare paperwork, tracking claims and payments, and consolidating related information.

Quicken Kids & Money was a Web-based program that aimed to help parents teach five- to eight-year-old children how to earn, spend, save, and share money. It is defunct.[6]

Other products are aimed at home business and seem to fit in a space for a less formal business than would be using QuickBooks. Quicken Rental Property Manager is a desktop software tool for managing rental properties; tracking tenants, expenses, and payments; and producing tax reports.

Software as a service

Quicken Online was a free, hosted solution (see software as a service) by Intuit. Intuit hosted all of the user's data, and provided patches and regularly upgraded the software automatically. Initially this was launched as a monthly paid subscription, and was a free service for over a year. During the year that it was free, it acquired over 1.5 million customers.[7]

Intuit completed the acquisition of competitor Mint.com on November 2, 2009.[8] Quicken Online was discontinued on August 29, 2010, and users were encouraged to transition to Mint.com.

Editions

The following are current (selling and supported) and retired (discontinued in both sales and support) versions of Quicken.

Current

Selling

Supported

Retired

Quicken 8 for DOS

(Dates retired are shown.) [11]

Criticism

Quicken contains a sunset provision that stops online features and any QFX formatted files from working after a certain amount of time,[12][13] requiring users to first buy a new Quicken license, and then to learn a new, often different interface from the more recent Quicken version.

Intuit stopped supporting its Quicken software in the United Kingdom in 2005, leaving many thousands of users with only partly functional software.[14]

In 2008 and 2009, Quicken users reported an unusually large number of software bugs for a commercial product.[15][16][17] A review of Quicken 2010 suggests that quality and user interface in that product year is dramatically improved.[18]

Existing Quicken Online users' data is not transferable/importable into Mint.com. This is in direct contrast to VP Aaron Patzer's promise, made on April 27, 2010: "[Until the merger with Mint.com is complete], you can continue to use Quicken Online just like you have. Once we have completed integrating all features to Mint, you will be able to easily transfer your information and data to ensure the smoothest transition possible."[19]

Quicken for the Mac lacks some of the features of the Windows version.[20][21] Furthermore, to migrate to Lion, users must pay $15 for an updated version of Quicken 2007; it has no new features.[22] The only way to obtain this version now is to contact Intuit Support directly via live chat.[23]

Many features of Quicken 2007 for Lion do not work (e.g. stock split transactions in investment accounts), and Intuit's support is limited. Intuit continue to release updates to maintain and address online connectivity issues for their Stock Quotes/Pricing download and Billpay features.[24][25] There is no common, inter-operable file format used between Windows and Mac (see History below).

History of Quicken and the absence of a common cross-platform file format

Quicken uses a database file structure. Since Quicken started on MS-DOS and the Apple II back in 1983 (before the Macintosh appeared in 1984), the database structure of choice did not exist for the Macintosh, nor has there really been a good common database structure developed that was cross-platform compatible created in the early days. So, when Mac development started, it had to take an independent path, and the DOS version transitioned onto Windows.

Then when Mac OS X came out in 1999 (server) and 2001 (desktop), a new platform emerged. Apple developed backward compatibility for OS 9 (and predecessors), so Quicken for Mac development continued in an older platform database structure (PowerPC based). Apple continued to support PowerPC-based apps (via Rosetta) onto their Intel-based Macs in Aug. 2009 (via Mac OS X 10.6). Rosetta was a temporary measure to support the eventual transition to Intel-Only based Macs (achieved in March 2011 with the release of OS X 10.7 (Lion)).

In 2009, faced with the eventual retirement of the PowerPC, it was deemed that the structure for Quicken for Mac (2007) was not suited for the direction of the Mac (intel) and OS X. Though they got Quicken for Mac 2007 to run on Intel in 2012,[26] Intuit decided to start from scratch and Quicken Essentials for Mac (QEM) was created in 2010.[27] Quicken 2015 for Mac, released in August 2014, and later versions for Mac are built on the Quicken Essentials for Mac foundation.

See also

References

  1. ↑ John Rebeiro (March 3, 2016). "Intuit selling Quicken to private equity firm HIG Capital". pcworld.com. IDG Consumer & SMB. Retrieved March 4, 2016.
  2. ↑ "Quicken for DOS". Intuit, Inc. Archived from the original on 2011-07-17.
  3. ↑ "All Quicken Products". Intuit.
  4. 1 2 "International Versions of Quicken". Intuit. 2011-06-20.
  5. ↑ An April 2007 article in the San Jose Business Journal.
  6. ↑ "Quicken Kids & Money Help". Intuit Inc. Archived from the original on February 6, 2009.
  7. ↑ "How Mint Grew to 1.5 Million Users and Sold for $170 Million in Just 2 Years". blog.kissmetrics.com.
  8. ↑ "Intuit Press Release - Intuit Completes Acquisition of Mint.com". about.intuit.com.
  9. ↑ "Quicken for Mac 2016". Intuit. Retrieved 2015-11-19.
  10. ↑ "Choose the right Quicken for you". Quicken. Intuit. Retrieved 2015-11-19.
  11. ↑ "Quicken Discontinuation Policy". Intuit. 2016-04-29. Retrieved 2016-07-07.
  12. ↑ Musgrove, Mike (2005-02-06). "'Sunset Policy' Stymies Loyal Quicken Users". Washington Post. Retrieved 2007-06-13.
  13. ↑ "Retirement of online services for older versions of Quicken". Intuit/Quicken. Retrieved 2007-06-13.
  14. ↑ Oates, John (2005-01-17). "Intuit UK kills Quicken and TaxCalc". The Register. Retrieved 2009-04-06.
  15. ↑ nathanau (2008-01-27). "Quicken Community - Quicken 2008 Bug List". Quicken Community. Retrieved 2009-04-06.
  16. ↑ thecreator (2008-08-28). "Quicken Community - Quicken 2009 Bug List". Quicken Community. Retrieved 2009-04-06.
  17. ↑ Elmblad, Shelley (2009-01-14). "The Best and Worst Features in Quicken". About.com. Retrieved 2009-04-06.
  18. ↑ Arar, Yardena (2009-10-29). "Intuit Quicken Premier 2010". Quicken Premier. Retrieved 2010-01-16.
  19. ↑ "Quicken Support - Quicken Community". Intuit. Retrieved 2016-07-07.
  20. ↑ "Quicken 2016 for Mac Comparison Chart". Intuit. Retrieved 2015-11-19.
  21. ↑ "Quicken 2015 for Mac Release Notes". Intuit. 2016-05-13. Retrieved 2016-07-07.
  22. ↑ Caldwell, Serenity (2012-03-08). "Quicken 2007 and Lion will play nice for $15". Macworld. Retrieved 2016-07-07.
  23. ↑ Intuit
  24. ↑ "Lion Compatible Quicken Mac 2007 Release Notes". Intuit. 2016-06-13. Retrieved 2016-07-07.
  25. ↑ "Quicken 2007 16.2 freezes, stock quotes updates". Intuit. 2007-02-16. Retrieved 2016-07-07.
  26. ↑ "Intuit releases Lion-compatible Quicken 2007". CNET. 2012-03-08. Retrieved 2016-07-07.
  27. ↑ Snell, Jason (2010-02-24). "After delays and criticism, Intuit releases Quicken Essentials for Mac". Macworld. Retrieved 2016-07-07.
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